According to Russian customs data,country’s flat steel exports under HS code 7208 (HRC),7209 (CRC ) and 7225 (Electrical sheets) have registered an increase of 13% in Jul’16 Y-o-Y basis. The same stood at 0.76 MnT in Jul’16 against 0.67 MnT in Jul’15.
While on M-o-M basis, country’s flat steel exports have registered a fall of 1.2% in Jul’16 against Jun’16.
During first seven months ( from Jan-Jul) of 2016, Russian steel exports stood at 5.10 MnT, up by 9.6% against corresponding period of previous year 2015.
Russian steel exporters were able to compete with Chinese material in terms of prices and were exporting steel at competitive prices to various countries including India.
The fall in global crude oil prices led to drastic depreciation of Russian currency, Rouble in past one year, thus encouraging Russian steel makers to export more steel in the overseas market.
However, many countries are imposing trade restrictions on steel exports from Russia. In Aug’16, India imposed ant-dumping duty on HRC,CRC, and Plates imports from Russia. Even EU (European Union) has imposed anti-dumping duty on Russian CRC imports.
*Quantity in MnT
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